Greek vote for survival

Money, food short ahead of referendum

This could be a Greek tragedy for the ages.

Greece is in full panic mode the day before residents are set to flock to the polls for a referendum that will help determine whether they will keep using the euro as currency.

As banks across the country remained closed Friday and cash reserves continue to be wiped out by the hour, Greek bank officials warned of drastic food and medicine shortages over the weekend — which would leave residents and tourists without their basic needs, according to Britain’s The Telegraph.

Constantine Michalos, president of the Athens Chamber of Commerce, believes shops may stay closed indefinitely due to the lack of funds, adding that the recent bank closures had been “absolutely disastrous” for local merchants.

Jampacked lines at ATMs have also forced officials to place a $55 dollar limit on withdrawals, due to the fact that they’re running out of 20 euro bills.

People were taking so much money out last week after Prime Minister Alexis Tsipras announced the plans for the weekend referendum that onethird of all the ATMs in Greece had run out of cash at one point, The Atlantic reported.

On Sunday, Greeks will be tasked with deciding whether to accept or reject austerity proposals linked to a bailout offered in late June by the European Union, International Monetary Fund and European Central Bank, also known as the “troika.”

Despite being a straightforward question — either “yes” or “no” to more budget cuts in exchange for a financialaid package — many people are confused about what they’re actually voting on in the referendum, since it does not specifically address the future of the euro.

To make things even worse, the offer on the table isn’t even available anymore because Greece’s last bailout package expired on Monday.

If Greeks vote in favor of more austerity assistance, experts believe it would illustrate the pub lic’s commitment to the euro.

If they reject the proposal, experts believe it would pave the way for a Greek exit from the eurozone. This would also lead to “government default” and “bank collapses,” which would force the government to introduce a new currency.

This would ultimately result in an uncertain future for Greece and high costs to Greek society, experts said.

A series of practice polls published Friday showed the two sides in a dead heat, with the “yes” vote receiving slightly more favor. Despite this, around 75 percent of Greeks want to remain in the euro currency.

At least 40,000 people took to the streets Friday to stage rival rallies ahead of Sunday’s referendum.

A few dozen blackclad Greeks carrying red flags, which are often carried by antiestablishment radicals, clashed with police during the demonstrations.